Castleark Management LLC Invests $14.81 Million in BrightSpring Health Services, Inc. $BTSG

Castleark Management LLC acquired a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 212,430 shares of the company’s stock, valued at approximately $14,815,000.

A number of other hedge funds also recently made changes to their positions in BTSG. AQR Capital Management LLC purchased a new position in BrightSpring Health Services in the first quarter worth $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in BrightSpring Health Services by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock valued at $587,000 after purchasing an additional 1,780 shares in the last quarter. Millennium Management LLC lifted its stake in BrightSpring Health Services by 0.3% during the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock worth $10,454,000 after purchasing an additional 1,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in BrightSpring Health Services by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock worth $2,664,000 after purchasing an additional 14,586 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of BrightSpring Health Services in the 2nd quarter worth about $351,000.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the sale, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the sale, the insider directly owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by company insiders.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $57.23 on Wednesday. The company has a 50-day simple moving average of $66.22 and a two-hundred day simple moving average of $54.47. BrightSpring Health Services, Inc. has a 12-month low of $22.86 and a 12-month high of $73.75. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 0.71 and a beta of 1.88. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the business earned $0.22 earnings per share. The company’s quarterly revenue was up 23.0% on a year-over-year basis. On average, equities analysts forecast that BrightSpring Health Services, Inc. will post 1.82 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BTSG shares. The Goldman Sachs Group started coverage on BrightSpring Health Services in a research report on Monday, June 8th. They set a “buy” rating and a $71.00 price objective on the stock. UBS Group boosted their target price on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Morgan Stanley upped their target price on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Wall Street Zen cut shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Raymond James Financial started coverage on shares of BrightSpring Health Services in a research note on Thursday, July 9th. They set an “outperform” rating and a $80.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company’s stock. According to MarketBeat, BrightSpring Health Services currently has an average rating of “Buy” and a consensus price target of $70.71.

BrightSpring Health Services Profile

BrightSpring Health Services (NASDAQ: BTSG) is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company’s operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient’s home environment, fostering independence and improving quality of life.